50 on behalf of woj

OK.. Will try to answer quick! :-)

Basically you have nominee directors in Gib who basically act on your instructions - else they get kicked out.

Gib has a decent rep for corps and normally the nominees are lawyers with a reputation to maintain.

Webby: sometime if you have some free time i'd love to chat with ya about setting up in EU if you wouldn't mind dropping some knowledge :thumbsup

Can't say for US corps, but got a massive bad feeling the IRS may not stand for scenarios like.... (tho all this shit is dependent on your personal circumstances!)

Example... you have a Gib corp. You are non resident in Gib and have a non-resident corp there. You are also non resident in your home country. You want to kill profit elements in the Gib corp, so you send it (paper shuffling from one side of the desk to the other) an invoice for management fees from your Panama corp. The Panama corp pays no taxes (normal) and this reduces or eliminates profits on your Gib corp.

I'd suspect the IRS would be crawling up your ass wanting "any" dime they could muster.

Ah!! :) Hi Sam!!

I'm just doing some stuff with Gib at the moment - when I got it together I'll prob be able to give you a decent contact. They appear OK, but worth checking!

Kristi I'll get on ICQ back in the office and hit you hit....

BUT.. just a thought! :winkwink:

Would your CW be interested in putting together some kind of packages for webmasters in Canada and elsewhere? I know he's good at this kinda stuff and has good contacts - and if he has time, it would probably help all round.

Chat to you later about this!

someone running away with the rebills doesn't sound like a good idea

The problem with europe is banks take a lot of money on dollars wires and checks. So it's not a good idea if you have multiple billing processors ( to pay your affiliates.. ).

Mutt... I just read what corvette said and it leaves room some explaining. Control over ... assuming bank accounts is the responsibilty of the beneficial owner under these circumstances - not some nominee.

There are plenty folks not resident within the US or the EU and they process in both these areas and are the principals - but they are not resident there. The EU has far more room to play with this stuff.

Agree with you to a point in that it's not wise to let third parties handle your finances, but, at the same time - they are often handling far more than the average webmaster deals with and have reputations to maintain. I've never once allowed any nominee information on the existance of any bank account or whether or not a bank account existed. Several nominees have stated at the outset they they prefer not to know - gives their clients some confidence.

Damn Kannuks.

In fact... that sure does not apply to all nominees, but at least one of mine is a millionaire in his own right and a director of .. think six banks, a law professor and hell knows what else.

Got little doubts as to whether he's gonna run away with client funds! :1orglaugh

Let's set up a call to discuss when you get back in the office.

Have safe travels!!! Stay warm!!!

bump for the great thread! :thumbsup

i have been through this with CCBILL thoroughly - your principal on a CCBILL account must RESIDE in the US if you are going with CCBILL US or an EU country if you are going with CCBILL EU.

If there are people who are principals on a CCBILL account who are not resident in the applicable region for their account - only two possibilities - it's an account established before the VISA regs changed and CCBILL hasn't caught up with it - or CCBILL is lying - and I'm sure they aren't on this.

Thanks Miss Gucci! :winkwink:

OK done - I'll hit you up shortly! :thumbsup

You can get your Tax ID instantly online from the IRS website :thumbsup

Hi Mutt! Yes, understand what you are saying. It's a matter of having a sensible corp structure and someone to call a principal and handle paperwork as a rep on behalf of a corp - can be a nominee or some other agent as long as it complies with the VISA rules.

Fundamentally, apart from CCBill, there are now more processors within the EU than anywhere else (mean "adult" processors) and they offer more client security than the "old model" where there have been loses with companies like iBill. BTW.. Don't think CCBill even now offer any form of security of client funds - that seems to remain an subject with nada response.

Only my :2 cents: worth, but I'll rather work with processors who do offer security or have a mechanism in place for protection of client funds.